Russia’s central bank has finalized regulations permitting licensed exchanges to offer Bitcoin (BTC), Ether (ETH) and Tether USDt (USDT) to retail investors beginning Nov. 17. The directive establishes the operational framework for the country’s newly regulated cryptocurrency market under central bank oversight.
Investment limits and requirements
Under the new rules, non-qualified investors are limited to purchasing up to 300,000 rubles (approximately $3,700) in cryptocurrency annually through each intermediary. This cap applies to transactions conducted via brokers, asset managers and authorized crypto exchange providers. Qualified investors face no such purchase limits.
All investors, regardless of qualification status, must pass a mandatory testing procedure before they can engage in trading activities. The central bank stated that transfers from regulated digital accounts to self-custody wallets remain prohibited.
Regulatory timeline and infrastructure
The finalized rules build on legislation signed by President Vladimir Putin on Aug. 4, which established the legal basis for a regulated cryptocurrency market. The law took effect on Sept. 1. On Aug. 11, the Bank of Russia published draft regulations identifying BTC, ETH and USDT as eligible for public trading, citing their market capitalization, average daily trading volume and at least five years of price history on foreign exchanges.
In October, the central bank authorized Sberbank, the country’s largest lender, to offer crypto exchange services. Moscow Exchange is preparing to launch cryptocurrency trading on Dec. 1, initially offering the three approved assets through pilot transactions.
Direct peer-to-peer cryptocurrency trading will be prohibited starting July 1, 2027. Russia continues to maintain a ban on using cryptocurrency to pay for goods and services.
